Oil-service stocks follow natural gas lower

LisaSanders

DALLAS (CBS.MW) -- A sharp downturn in natural-gas futures helped pressure oil-service stocks in afternoon dealings. January natural gas slumped 25.1 cents, or 3.5 percent, to $6.97 per million British thermal units. The Philadelphia Oil Service Index
OSX, -2.23%
shed 1.5 percent to 90.65. "We believe the oil-service group is most likely to experience a repeat of last winter's behavior; i.e. shares move lower from current levels, and then modestly recover by spring," said Blaylock & Partners analyst Brad Handler, in a research note.

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